RP Weekly Recap | July 26 – 30
Summary
Ranchers, farmers, and environmentalists in California, one of the most climate forward states in the United States, are coming together to oppose what would be the largest solar plant built in the San Francisco Bay area, a project local officials say is critical to the state meeting its climate goals. Since California has committed itself to 100% carbon-free energy by 2045, opposition to such a grand project has seemingly come out of left field. Check out this story and more in this week’s recap of all things happening in oil and gas!
COVID-19 Updates
COVID-19 Statistics
- Number of Cases (Worldwide): 196,910,814 (up from 192,826,064 last week)
- Number of Cases (USA): 34,762,688 (up from 34,293,127 last week)
- Statistics courtesy of Johns Hopkins
Financial & Economic Updates
U.S. Oil Market News
- Massive California Solar Project Faces Strong Opposition
- U.S. Shale M&A Wave Creates New ‘Super Independents’ Breed
- Pioneer Natural Resources Warns of $832 Million Loss for Quarter
- Oil Prices Boosted By Falling Crude Inventories
- Texas Power Grid Sees Record-breaking Demand during Heatwave
- Lime Rock Resources Acquires ‘Unique Opportunity’ in $500 Million Permian Deal
- U.S. LNG Exports Hit Record Highs in First-half 2021
- Chevron Launches ‘New Energies’ Unit Led by Former U.S. Shale Head
- Halliburton Launches Low Cost, Direct Fracture Monitoring Service
- Hess Expects U.S. Shale’s Return to Pre-COVID Levels to Take Several Years
- Explaining The Record Decline In Carbon Emissions **INTERESTING READ**
Global Market News
- Exxon Posts Highest Profit in More Than 2 Years
- Shell Reports $5.5 Billion Net Profit And Hikes Dividends
- Shell Green-lights Giant Gulf of Mexico Deepwater Project
- Argentina’s Oil Industry Is Finally Bouncing Back
- Houthis Advance On Oil-Rich Province In Yemen
- China Strikes Back At EU For Carbon Border Tax
- Exxon Makes Another Major Oil Discovery Offshore Guyana
- Russia Was World’s Second-Largest Oil Producer In H1 2021
- Iraq Wants American Firm to Replace Exxon, Prime Minister Says
- India’s Renewable Industry To See $150 Billion Of Investment By 2030
- The World Will Run Out Of EV Batteries By 2025 **INTERESTING READ**
Employment Updates
United States Rig Count
- Down (-3) from last week for a total of 488
- Up 94.4% from one year ago
- Statistics courtesy of Baker Hughes
RARE PETRO Updates
Content Updates – News Pulse – Podcast
- If you’ve ever read the news you’ve surely seen the controversy surrounding our industrial circulatory system: pipelines. When was the first pipeline built? Are pipelines safe? Is there a better transportation method than pipelines? Find out in episode six of Hydrocarbon History!
- Our latest Periodical uncovers how local governments are seeking to ban natural gas and the implications this may have on society as a whole.
- Grab a drink and join us for our newest segment, Thirsty Thursday: An Inventory Report to see if we’ve been poured another tall glass of crude and whether or not the U.S. was thirsty enough to suck down another round.
- As Always, A New Monday Madness Podcast!
- A New Basin Breakdown for the month of June is available now! Be sure to check out the latest articles and Basin Breakdown Podcast!
- Episode Sixteen of The Industry Leader Spotlight Podcast is available now! Be sure to check out our interview with David MacNeill, the founder, President, and CEO of Wellbore Integrity Solutions!
- Tune in for the first episode in our educational series where we consult experts in the field on many different technical disciplines. In our first episode, your host Tavis uncovers the fact that scientists, philosophers, and engineers have been predicting the eventual peak of oil production for decades, but each estimate has been incorrect. Was 2019 the year of peak oil? What are factors contributing to a decline in production? What are the newest estimates for peak oil? Tune in to Peak Oil: The Continuous Climb to find out!
- Founded in 2007, Oasis Petroleum has done a stellar job of making a name for itself in the Williston Basin. How do they financially stack up to a past version of themselves and other peers in the area? Find out with RARE PETRO’s Energy Market Report Card! Or check it out in Video format HERE!
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